Purchasing one’s first home, is, often, both, the fulfillment of the American Dream, as well as the responsibility, and obligation. Those considering becoming homeowners must realize, and recognize, it’s necessary and essential, to fully understand, and prepare, for the financial considerations, obligations, etc, which might be involved. When this is done, the possibility of enduring the dangers, many do, of becoming, house – rich, but so stressed, to make enjoying it, extremely challenging, are exponentially, reduced, and, thus, it makes sense, to proceed, with one’s, eyes, wide – open. With that in mind, this article will attempt to briefly consider, examine, review, and discuss, some of the ways, to proceed, smartly, from a financial perspective.

1. What can you afford?: Before you begin, sit, and seriously consider, in an introspectively, objective manner, what you can afford, and will be comfortable with. This differs, widely, from, individual – to – individual, and, therefore, everyone must examine, his personal, comfort zone! Some of the considerations should include: the down – payment; personal cash flow issues; and necessary reserves, which might be needed, in the future. Since most first – time buyers use a mortgage, to finance the house, they must recognize, most conventional loans, require 20% down, although, many mortgages, require less. However, remember, the less you put down, the higher your monthly expenses. Before you begin the search, be certain, your credit, will be your friend, and helpful, rather than making your life, more difficult and/ or challenging!

2. Reserve for life’s unexpected turns: Wise buyers create a reserve, in case, there is some down – turn, in their career, etc, which reduces their income, and cash flow. I recommend an amount equal to approximately, six to nine months, mortgage (including principal, interest, real estate taxes, and escrow items), plus fixed monthly costs (usually, utilities).

3. Reserve for immediate preparation: There is generally, a degree of work, a new homeowner, wants, and/ or needs to do, to make the house, his personal home! These items often include painting, floors (carpets and/ or wood floors), etc. It’s wise to over – estimate, and be prepared!

4. Reserve for repairs: Be prepared for the repairs, homeowners, will need to do. Some of these, include: appliances, electrical, plumbing, etc.

5. Future maintenance: These items are things, such as roofing, patios, exterior, and regular items.

6. Reserve for renovations: What might you like to change, in the future? Be prepared for these renovations, such as kitchen, bathrooms, etc.

A wise, prepared homeowner, is generally, the one, who will get the most happiness, from his house. Will you have the discipline to proceed, in a wise, and prepared manner?

Whether you are a construction recruitment agency or a construction firm itself looking to hire the best of talent industry has to offer, here are a few important tips to help you in this quest.

Hire in the off season:

Conventional wisdom has it that you must never go grocery shopping while you are hungry. You tend to buy whatever you get at the earliest and that’s almost never a good bargain. The same is true for hiring tradesmen when you need them.

So the best time to look for a tradesman is when you don’t require one. It will help you scan wide range of talents, be more selective, and acquire the kind of worker you exactly want. As an added piece of advice, aim for the off-season when many construction workers are out of work and you might get a bargain.

Pay the market rate:

When you pay peanuts, you get only monkey! Firms who pay below-market wages not only have the least-qualified and least-productive employees, but they are also the ones always in need of new workers. Why? Because competitive tradesmen will leave you the moment they get more lucrative opportunities. Do I need to tell you what a dent it makes to overall productivity?

Provide a safe work environment:

Don’t underestimate the value of a safe and healthy workplace in retaining workforce. Too many workers falling sick on site might force others to look for a safer option. A major accident on site and the resultant bad press might turn away potential hires.

Develop a great work culture:

There is something more than a good salary a qualified and talented tradesman look forward to. Bonuses, paid leaves, company outings, work-life balance, and retirement programs are some of the perks that entice the best of talents. The more people want to work for your company, the easier it will be to attract (and retain) quality people.

Invest in your workforce:

I haven’t met a tradesman who doesn’t like adding on new skills or getting a pat on the back for a job well done. So it’s a good idea to invest in your workforce. When you provide them a chance to learn, grow and develop they can help your company do the same. Training improves the efficiency of the workers and quality of the output. This is also a great way to identify the people with potential to take on bigger roles within the company.

Be in step with time and technology:

Embracing technology not only makes the company more efficient and productive but it also attracts younger and tech-savvy workforce. You can also publicize it as your USP to entice people buying your product or services.

Character can pay more dividend than the skill-set of a hire:

Characters can’t be built, skills can be. People with character can make the most of the training you give them. Such workers are more likely to stick with you in bad times as compared to those with only skills and potential.

Mark Trescothic is an editor in Content & Communication. He has given his key contribution in construction related topics. He spent years in writing content for construction firms and tradesmen. To find competent tradesmen in the UK, visit Bag a Builder.

It seems like just about everyone reaches a point in their life when they want to be a landlord. From reality TV shows to glamorous stories of how a few stand-out individuals went from working full-time to making hundreds of thousands of dollars off their rental properties, there’s really no wonder why people think being a landlord is so lucrative and enjoyable. After all, at first thought, it seems like owning a bunch of properties and waiting for the rent checks to come in each month would be so carefree and simple. Not to mention that you could make a lot of money by just making a bank-run every month.

Of course, in reality, life as a landlord is by no means simple.

Landlords have to deal with everything from small hiccups in the plumbing system to electrical problems, house updates, damage caused by tenants, and so much more. In many cases, they also have to provide lawn care for their properties, schedule maintenance check-ins, and pay for all kinds of repairs–most of which is likely caused by tenants who were on their way out. Staying on top of due dates and deadlines is yet another difficulty, and when you begin looking at the long list of responsibilities a landlord is expected to handle, it becomes apparent that it might not be such an incredible option after all.

But, despite all the headache, it remains very lucrative. And, if you get in the right tenants, you can save yourself a lot of trouble. However, even with these things in mind, landlords still have to be sure that the lawn is taken care of, that the house is maintained, that repairs are fixed in a timely manner, and that all issues tenants bring up are looked after. This means taking a lot of phone calls, scheduling a lot of handyman visits, and even fronting money for these things out-of-pocket. Typically, the rent checks are enough to keep landlords inspired to keep going since this hard-work surely pays off at the end of the money, but in-between paychecks, it can be difficult to handle everything.

That’s where a property maintenance company often comes into play. Whether you own one property or many, a property maintenance company can help you make sure that everything is taken care of quickly, easily, and with a smile. Rather than you spending countless hours talking to tenants, scheduling repairs, and meeting with the people you hire, a property maintenance company will take over that role and basically handle all of the headache of being a landlord.

Once you give the number to your tenants, they will from then on call the company to report any issues with the property. The company will then be responsible for handling all needed maintenance and repairs, and then giving you a summary of what’s going on each week. In other words, their job is to relieve your stress and assure you that everything is taken care of.

The end result is that you have more time and energy to put into marketing your properties, worrying about due dates, and cashing checks.

The author is an internet marketing expert and author. He has written and published dozens of blogs and hundreds of articles. He has an extreme knowledge on short term lets london. He works at Smarthost a premium Airbnb Management company based in London, UK.

There are many sides to building residential buildings. Many constructions can be seen mushrooming in all parts of the world. However, it is important to find the best building company to make sure that they can tackle all the issues that may arise. Some of the issues that may face the companies include short cash flows, the high cost of building materials and so on. Most of the building companies that have failed are usually the smaller contractors who tried to expand very quickly.

When engaging with the residential builders, there is information, that one has to ask so as to understand whether the company is robust or not. It is important to deal with a company that has a reputation that is long and well established. There are many companies in the construction industry that fail every year due to receivership and liquidation. The most common trait of such companies is the fact that they were still in the infancy stages and were under five years in operation.

What happens if a company fails?

Sometimes a building company may fail for one reason or the other. In such a case, the subcontractors and the homeowners suffer a lot financially. This is because they are caught in the failed process. The homeowners are often protected by a guarantee that covers the deposit loss or non-completion of any project. This is what gives the homeowners a lot of confidence. It is important for the customers to be very careful and only pay the sum of money agreed and depending on the stage of the work completed.

A building company should be very conscious about its cash flows. Most of the companies that have failed before do so because of time delays or sometimes post-rebuild the kind of delays from the insurance companies. There are managers who fail to concentrate on the finances and instead keep on seeking out some new clients. Sometimes the staff may need to take time off due to illness or injury and thus drag the schedule behind. In most cases, the smaller companies are greater impacted because of the limited number of staff.

With the current economic situation, everything seems to be rising in price. There are things like scaffolding have to stay at the site longer than before to adhere to the set safety laws.

How homeowners should find the right partner

To ensure that you find the best building partner, the traditional method can be applied where you ask for recommendations regarding the best player in the market. It is important to get out and see the kinds of projects that the potential companies are working on and get a feel of the quality. You should also talk to other people who have already been through a building experience and get their opinion and recommendations.

If you find that a builder has some projects that have stalled, it is a very bad sign and should be your reason for thinking deeper about your options.

If a builder happens to mention things such as provisional costs or if they say that, the prices will be confirmed later, that is a contract to avoid at all costs.

Building services is the best place to get high standard building services. They have great expertise in all matters related to building and they are committed to their work. There are many services that you can access and all aspects of the construction industry are covered.